The altseason index has entered the altseason area.
According to this metric, we have entered a full-fledged altseason. While many of you may not feel this yet, as the majority of altcoins haven't really moved much, and even if they have moved - they haven't reached the values of your purchases.
In any case, there is still plenty of room for alt growth if BTC continues to share its liquidity and doesn't want to go into a 20% correction (which is quite possible).
We have entered the first week of December - I wish everyone success and a productive month 🔥
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The UK Government is preparing an important step in the world of cryptocurrencies
The UK has announced that the cryptocurrency regulation law will come to light in early 2025. This document will be presented at a conference dedicated to innovations in the financial sector and the tokenization of assets, which will take place in London.
The UK Treasury aims to create comfortable conditions for the regulation of stablecoins. Initially, it was planned to approve the bill in the summer of this year, but due to elections, its adoption was temporarily postponed.
The UK authorities intend to allow the use of stablecoins as a means of payment, provided they are pegged to the dollar or euro. The bill also aims to regulate staking, which receives support from the blockchain industry, eager to accelerate the legalization process.
The EU has already adopted the MiCA law, and London is not intending to lag behind in order to maintain its status as one of the leading financial centers in the world.
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Against the backdrop of yesterday's Bitcoin drop, positions worth over $470 million were liquidated
Yesterday, Bitcoin fell to a mark of $95,834, leading to a significant liquidation of positions, over $470 million$ - one of the record figures in the last six months.
However, support at the mark of 96,000$ performed well, and the asset recovered above $98,000.
Analysts expect a capital redistribution, as Bitcoin's dominance has decreased to 58% and continues to gradually decline, while BTC's market capitalization has dropped to $1.944 trillion.
The collapse occurred after some altcoins rose by more than 50% amid the November rally and Donald Trump's victory in the US presidential election.
A decrease in dominance below 60% is still not enough for an altseason, but some altcoins are already showing good growth; if the trend continues, altcoins might perform well in December.
🏷️ Exposing and Disrupting: Binance's Role in the "Cybercrime Atlas" Initiative
➡️Cybercrime Atlas is an initiative aimed at disrupting the global cybercriminal ecosystem through the use of open source intelligence and cross-sector partnerships.
➡️Binance, along with other key players, is actively contributing to identifying vulnerabilities and strengthening threat mitigation measures.
🏷️ Psychology of trading: how to trade without emotions
➡️Trading psychology is the emotional aspect of the trader's decision-making process. ➡️Each trader has emotional triggers to one degree or another. ➡️The two main emotions affecting traders are fear and greed. Both of these can lead to bad decisions, such as buying one asset all in or panic selling out of fear.
Let me remind you that back in 2013, BTC was called a bubble 😁
I came across a screenshot of an article where BTC was called a bubble and predicted to die soon, then it cost a ridiculous 100$ per coin and really went into correction.
After some time, BTC grew 1000 times.
This is what they once said about Microstrategy shares in the fall of 2022, and two years later they grew 30 times 😁 The same thing happened with SOL and many others.
XRP shows positive dynamics against the backdrop of positive news from the SEC
It has now been officially confirmed that Gary Gensler will leave his position as head of the SEC, with his resignation planned for January 20, 2025.
XRP reacted to this news with impressive results, reaching a peak not seen since May 2021, as investors began to actively invest in this coin, leading to a record interest in XRP futures at $2.1 billion.
I would like to remind you that under Gensler's leadership, the SEC filed a lawsuit against Ripple, accusing the company of issuing unregistered securities, including XRP.
The news of his departure brings optimism to investors, as there are now good chances for a successful resolution of the dispute between the SEC and Ripple.
CZ predicts the beginning of a new phase in the adoption of bitcoin at the state level
In his opinion, states will soon start competing with each other to accumulate bitcoin as a strategic reserve, which may ultimately lead to unprecedented growth in demand for cryptocurrency.
Already 62 public companies have included bitcoin in their treasury strategies, as a result of which the cryptocurrency is increasingly recognized and integrated into traditional financial systems.
Private companies are also actively incorporating bitcoin into their strategies, and their number, according to River, is in the thousands.
Many companies see bitcoin as an opportunity to reduce operational costs, increase liquidity, and diversify investment portfolios. Some of them are even considering using bitcoin as a payment method for customers.
Justin Sun, the founder and CEO of Tron, has expressed his desire to join the lawsuit against the SEC.
Let me remind you that 18 states have decided to join forces and file a class-action lawsuit against the SEC and five of its commissioners. The lawsuit contains allegations of unconstitutional overreach and interference in the cryptocurrency space. Currently, several candidates who support crypto are being considered for the position of SEC chairman. Among them is Robinhood's chief lawyer, Dan Gallagher.
In light of these developments, Ripple should consider and start preparing for an IPO. Perhaps, after a change in SEC leadership, they will have another opportunity to prove themselves, and the XRP fans who have gritted their teeth and held onto their coins will be vindicated in their potential, which is increasingly being confirmed.
Bitcoin Options Market Activity Increases This Week
According to Kaiko Research, options trading volume in the market exceeded $8.2 billion$ when Bitcoin reached $90,000$ and above. Of this amount, $5 billion$ was in Call contracts, which imply a price increase.
Tuesday saw a significant increase in demand for options with strikes from $90,000 to $120,000$ with an expiration date of December 27.
Experts believe that hedge funds and retail traders actively participating in the options market are set for a long-term rally in the cryptocurrency.
Interest in Bitcoin and Ethereum options on the Deribit exchange reached a record $40.8 billion.
Spot BTC ETF Trading Volume Exceeded $7.4 Billion Yesterday, Most of It Came from BlackRock
On November 13, the spot bitcoin ETF trading volume in the US exceeded $7.4 billion. Among them, the majority of the volume came from the BlackRock ETF, which reached a record $5 billion.
BlackRock began trading its bitcoin ETF on November 10, 2023, and is now one of the largest asset managers in the world,
Since the launch of the ETF, a significant number of investors have been attracted, which has led to an increase in trading volumes.
The launch of the BlackRock bitcoin ETF has also had a positive impact on other crypto funds.
Investors who were previously cautious due to the volatility of bitcoin can now invest in it through more traditional financial instruments. This can lead to increased liquidity in the cryptocurrency market and reduced volatility.
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